max h bazerman

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5 Good Negotiation Techniques

Posted by & filed under Negotiation Skills.

negotiation techniques

You’ve mastered the basics of good negotiation techniques: you prepare thoroughly, take time to build rapport, make the first offer when you have a strong sense of the bargaining range, and search for wise tradeoffs across issues to create value. Now, it’s time to absorb five lesser-known but similarly effective negotiation topics and techniques that … Read More 

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How to Negotiate with Friends and Family

Posted by & filed under Dispute Resolution.

negotiate with friends

“Never do business with friends,” the adage goes. But should you always stay away from an opportunity to negotiate with friends and family? A strict policy of keeping friends and family members out of our business lives would be impractical, and it could cause us to pass up potentially valuable negotiating opportunities. … Read More 

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Must-Read Negotiation Books for 2019

Posted by & filed under Negotiation Training.

negotiation

The year 2017 offered plenty of negotiation hits and misses in the realms of government, business, and beyond. To avoid failed negotiations in 2018, politicians, business leaders, and the rest of us would be wise to explore the following recent negotiation books, which can help steer us through our most difficult negotiating dilemmas: … Read More 

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5 Tips for Improving Your Negotiation Skills

Posted by & filed under Negotiation Skills.

improving your negotiation skills

The prospect of boosting our negotiation skills can be so overwhelming that we often delay taking the necessary steps we can follow to improve, such as taking time to prepare thoroughly. The following five guidelines will help you break this daunting task into a series of manageable—and often essential—strategies. … Read More 

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How to Find the ZOPA in Business Negotiations

Posted by & filed under Business Negotiations.

zopa in business

In business negotiation, two polar-opposite errors are common: reaching agreement when it wouldn’t be wise to do so, and walking away from a mutually beneficial outcome. How can you avoid these pitfalls? Through careful preparation that includes an analysis of the zone of possible agreement, or ZOPA in business negotiations. … Read More 

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Compensation Negotiation Tips for Salary Bargaining

Posted by & filed under Salary Negotiations.

compensation negotiation tips

Job candidates are often eager for compensation negotiation tips, and with good reason: they tend to be at a bargaining disadvantage relative to the hiring organization. Due to the well-documented anchoring effect, the first figure introduced into the discussion can strongly influence the final outcome—and the wage or wage range cited by employers is likely … Read More 

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Implement Negotiation Training in Your Organization

Posted by & filed under Negotiation Training.

negotiation training

Organizations across the globe spend many millions of dollars each year on negotiation training for their employees. This training can be in-house, led by consultants and other experts, or employees can travel to training programs at universities and elsewhere. After engaging in a couple of days of training, employees return to the office and attempt … Read More 

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Using Body Language in Negotiation

Posted by & filed under Negotiation Skills.

body language in negotiation

Negotiation experts typically advise us to meet with our counterparts in person whenever possible rather than relying on the telephone or Internet. As convenient as electronic media may be, they lack the visual cues that help convey valuable information and forge connections in face-to-face talks. Without access to gestures and facial expressions, those who negotiate … Read More 

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MESO: Make Multiple Equivalent Simultaneous Offers to Create Value in Dealmaking Table

Posted by & filed under Conflict Resolution.

MESOs

MESO negotiation, a negotiation strategy for creating value with a counterpart who may be reluctant to negotiate, allows negotiators to propose multiple offers without signaling commitment or preference for any one option. Business negotiators that practice integrative negotiation strategies often complain that although they try to focus on creating value, they run into far too many difficult … Read More 

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Why Great Negotiators Earn More Money

Posted by & filed under Salary Negotiations.

Great Negotiators

What’s the best way to claim more money in a negotiation? Many professional negotiators would recommend hard-bargaining tactics, such as asking the other party to disclose their bottom line, standing firm on price, and threatening to walk away. But truly great negotiators recognize that using haggling strategies alone may leave significant money on the table. … Read More 

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5 Win-Win Negotiation Strategies

Posted by & filed under Win-Win Negotiations.

win win negotiation

Business negotiators understand the importance of reaching a win-win deal: when both sides are satisfied with their agreement, the odds of a long-lasting and successful business partnership are much higher. But concrete strategies for generating a win-win contract often seem elusive. The following five, from experts at the Program on Negotiation at Harvard Law School, … Read More 

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Try to Avoid the Winners Curse When Negotiating

Posted by & filed under Dealmaking.

winner's curse

In a winner’s curse negotiation scenario, the winner may often find herself on the losing end of the deal. Ever win something you wanted, then realize too late you got a raw deal? Here’s how to recognize when backing away is your best bet in a negotiation. … Read More 

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5 Common Negotiation Mistakes and How You Can Avoid Them

Posted by & filed under Negotiation Skills.

negotiation mistakes

Sometimes our negotiation mistakes are glaring: We accidentally reveal our bottom line, criticize the other party when patience was warranted, or get our numbers mixed up. More often, though, our negotiation mistakes are invisible: We get a perfectly good deal, but are unaware that we could have gotten a better one if we hadn’t succumbed … Read More 

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How to Negotiate a Business Deal

Posted by & filed under Business Negotiations.

How to Negotiate a Business Deal

In late 2016 and early 2017, news stories abounded of companies that were having second thoughts about planned mega-mergers. Abbott Laboratories began looking for ways to exit its acquisition of Alere, citing investigations of the medical test maker, for example. And Verizon started rethinking its acquisition of Yahoo! following a data breach at the tech … Read More 

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For Professional Negotiators, Three Is a Magic Number

Posted by & filed under Negotiation Skills.

professional negotiators

Everything good comes in threes, they say. For storytellers, this means understanding that readers and listeners find a sequence of three things to be memorable, satisfying, and compelling—whether it’s three bears, three little pigs, or three kings. For professional negotiators, sequences of three can be rewarding as well. The following examples of good negotiation skills … Read More 

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6 Bargaining Tips and BATNA Essentials

Posted by & filed under BATNA.

bargaining tips BATNA

The best bargaining tips taught by the experts should offer ways to enhance your bargaining power in negotiation. To do this, you must cultivate a strong BATNA, or best alternative to a negotiated agreement. The more appealing your best alternative is, the more comfortable you will feel asking for more in your current negotiation—secure in … Read More 

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Negotiation in Business: Ethics, Bias, and Bargaining in Good Faith

Posted by & filed under Business Negotiations.

negotiation in business

As we’ve discussed in previous articles about negotiation examples in business, a negotiator’s beliefs concerning negotiation ethics are affected by cognitive biases. You probably can recall times when a negotiating opponent made what appeared to be a blatant misstatement. If you’re like most people, you assumed the person was lying to gain an advantage. … Read More 

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5 Conflict Resolution Strategies

Posted by & filed under Conflict Resolution.

conflict resolution

Whether a conflict erupts at work or at home, we frequently fall back on the tendency to try to correct the other person or group’s perceptions, lecturing them about why we’re right—and they’re wrong. Deep down, we know that this conflict management approach usually fails to resolve the conflict and often only makes it worse. … Read More 

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What is Distributive Negotiation and Five Proven Strategies

Posted by & filed under Dealmaking.

distributive negotiation

Most negotiations call for very different, even opposing, skills: collaboration and competition. To get a great deal, we typically must work with others to find new sources of value while also competing with them to claim as much of that value for ourselves. Before mastering the intricacies of value creation in negotiation, it helps to … Read More 

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What is Negotiation?

Posted by & filed under Negotiation Skills.

negotiation

Many people dread negotiation, not recognizing that they negotiate on a regular, even daily basis. Most of us face formal negotiations throughout our personal and professional lives: discussing the terms of a job offer with a recruiter, haggling over the price of a new car, hammering out a contract with a supplier. … Read More 

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Sales Negotiation Techniques

Posted by & filed under Business Negotiations.

sales negotiation

In sales negotiations, making the first offer is often a smart move. The first offer can anchor the discussion that follows and can have a powerful effect on the final outcome. But if the other party makes the first offer, you’ll need to be prepared to frame your counteroffer carefully. What is framing in negotiation? It … Read More 

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Managing Cultural Differences in Negotiation

Posted by & filed under International Negotiation.

managing cultural differences

It’s important to educate yourself about your counterpart’s culture so that you don’t risk offending her or seeming unprepared. At the same time, it would be a mistake to focus too narrowly when preparing for cross-cultural communication in business. Research on international negotiation can help us think more broadly when it comes to managing cultural … Read More 

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How to Deal with Difficult People

Posted by & filed under Dealing with Difficult People.

how to deal with difficult people

We’ve all met them: people who prefer competition over collaboration, stonewalling over problem solving, tough talk over active listening. Think of the boss who refuses to allow you time off to help an ailing relative, or the potential customer armed with a “nonnegotiable” proposal. When considering how to deal with difficult people, we tend to write … Read More 

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Family Business Conflict Resolution and Negotiation

Posted by & filed under Conflict Resolution.

Family Business Conflict Resolution

Business transactions between family members and friends can be difficult. Close ties are generally founded on the expectation that we’ll look out for each other’s welfare and not “keep score.” In business relationships, by contrast, we expect to be compensated based on how much effort, time, and money we expend. We’re likely to experience a … Read More 

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In Group Negotiation, Avoid a Turf Battle

Posted by & filed under Business Negotiations.

group negotiation

In group negotiation, turf battles—heated conflicts over territory, control, rights, or power—are common. Department heads clash over scarce resources. Companies, community groups, and governments get tied up in lawsuits over undeveloped land. Across the globe, fishing groups have depleted fish stocks in their rush to catch the biggest share for themselves. … Read More 

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Negotiation Preparation Strategies

Posted by & filed under Business Negotiations.

negotiation preparation

When an important negotiation is looming, “winging it” is never the answer. The best negotiators engage in thorough negotiation preparation. That means taking plenty of time to analyze what you want, your bargaining position, and the other side’s likely wants and alternatives. … Read More 

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Negotiation Skills: Threat Response at the Bargaining Table

Posted by & filed under Negotiation Skills.

negotiation

When someone issues a threat or an ultimatum, take a step back and diagnose the problem. Consider how you would respond to threats and ultimatums such as these during negotiation. In the face of such tough talk, should you strike back with a counterthreat? Probably not. Because counterthreats raise the emotional temperature of a negotiation, … Read More 

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Value Claiming in Negotiation

Posted by & filed under Negotiation Skills.

value claiming

In most negotiations, we face two goals: claiming value and creating value. Value can be defined as anything you would like to get out a negotiation, whether it be more dollars, a consulting contract, a new rug, an end to conflict, and so on. … Read More 

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MESO Negotiation: Learn from a Seller’s Market

Posted by & filed under Dealmaking.

MESO Negotiation: Learn from a Seller's Market

What negotiating skills can negotiators take away from hyper competitive bargaining situations? With home sales heating up (again) in some parts of the United States, homebuyers are facing competition they haven’t seen since before the real-estate bubble burst back in 2008, and it’s showing up in the form of packed open houses, multiple bids above … Read More 

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How Short-Term Focus Contributes to Future Disasters in Business Negotiations

Posted by & filed under Business Negotiations.

How Short-Term Focus Contributes to Future Disasters in Business Negotiations

Negotiators tend to concentrate too closely on the here and now. By incorporating future concerns into your talks, you’ll make sounder decisions and guard against crises. In the midst of the current U.S.financial crisis, accusations of greed on Wall Street have sounded across the globe. Greed may be a significant factor in the collapse of credit … Read More 

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Video: Setting the Stage for Productive Negotiations

Posted by & filed under Daily, Resources, Videos.

productive negotiations

Understanding how to arrange the meeting space is a key aspect of preparing for productive negotiations. In this video, Guhan Subramanian, professor at Harvard Law School and Harvard Business School, discusses a real world example of how seating arrangements can influence a negotiator’s success. The discussion was held in his negotiation training workshop “Setting the … Read More 

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Promoting Fair Outcomes in Negotiation

Posted by & filed under Negotiation Skills.

So, you believe you’ve done everything you can do create value in your negotiation. You engaged in logrolling, making trades based on your and the other party’s different preferences on particular issues. You brainstormed new issues to add to the discussion, added a contingent contract, and proposed multiple offers simultaneously to identify which your counterpart … Read More 

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Beware Your Counterpart’s Biases

Posted by & filed under Conflict Resolution.

In the past we have encouraged you to ‘debias’ your own behavior by identifying the assumptions that may be clouding your judgment. We have introduced you to a number of judgment biases – common, systematic errors in thinking that are likely to affect your decisions and harm your outcomes in negotiation. Learn how to identify … Read More 

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Creating and Claiming Value Through Haggling – Assess The Other Party’s BATNA in Dealmaking Negotiations

Posted by & filed under BATNA.

Now it’s time to assess the best deal you might get. Figuring out the other party’s reservation price is the key to knowing how far you will be able to push him, write Deepak Malhotra and Max H. Bazerman in their book Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining … Read More 

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What is the Winner’s Curse?

Posted by & filed under Conflict Resolution.

Imagine that while exploring an outdoor bazaar in a foreign country, you see a beautiful rug that would look perfect in your home. While you’ve purchased a rug or two in your life, you’re far from an expert. Thinking on your feet, you guess that the rug is worth about $5,000. You decide to make … Read More 

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Is Your Deal Too Good to Be True?

Posted by & filed under Business Negotiations.

In an episode of the fictional HBO series Silicon Valley, partners in a red-hot technology startup, Pied Piper, receive funding offers from a number of venture capitalist firms. Raviga Capital is by far the highest bidder; its offer of $20 million values Pied Piper at a whopping $100 million. … Read More 

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How to Avoid the Negative Impact of Goal Setting: Setting Realistic Objectives in Negotiations

Posted by & filed under Negotiation Skills.

Imagine that you’re a freelance marketing consultant who is negotiating the conditions of a long-term assignment with a new client. As you think about what you will charge, you set a goal that you consider to be challenging but not impossible. The project manager balks when you first quote your rate, but you end up … Read More 

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In Dealmaking, Look for the Needle in the Haystack

Posted by & filed under Dealmaking.

When you’re desperate to make a good deal, breakthroughs can come at unexpected times and places. Consider what happened when Assistant U.S. Attorney Richard Elias was looking through a sheaf of J.P. Morgan Chase & Co. documents while taking care of his newborn son in 2012. At the time, directed by President Barack Obama, the … Read More 

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Dealmaking: Beyond Collusion – How to Include Outsiders in Your Deal in Business Negotiations

Posted by & filed under Conflict Resolution.

The issue of bidder collusion raises a larger question for negotiators: What ethical responsibility do we have to those who aren’t seated at the table with us? Harvard Business School professor Max H. Bazerman uses the term “parasitic value creation” to describe the common tendency of negotiators to focus so narrowly on identifying benefits for those … Read More 

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Conflict Management: Do You Stretch the Truth?

Posted by & filed under Conflict Resolution.

First adapted from “Do You Stretch the Truth?,” first published in the September 2012 issue of Negotiation. Tell the truth: Have you lied to a salesclerk or service provider lately? Maybe you blamed a restaurant for messing up your reservation, though you suspect you probably provided the wrong date over the phone. Or, after missing a deadline to return … Read More 

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Negotiation Skills: A Failure to Communicate

Posted by & filed under Negotiation Skills.

Question: I’ve just finished reading the recent book No One Would Listen: A True Financial Thriller (Wiley, 2010) by Harry Markopolos, the whistle-blower in the Bernard Madoff scandal. Why do you think Markopolos was so ineffective at persuading the Securities and Exchange Commission (SEC) that Madoff was a fraud? What does this story tell us … Read More 

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Conflict Management Techniques: Should You Take Your Dispute Public?

Posted by & filed under Conflict Resolution.

To turn up the heat on opponents, negotiators sometimes advertise their grievances. Here’s negotiation skills advice on when it’s a good idea to be vocal—and when to keep talks private. The decision seemed nonsensical. Early on the morning of March 7, 2010, with the Academy Awards telecast just hours away, the Walt Disney Company pulled the signal on … Read More 

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Negotiators: Guard Against Ethical Lapses

Posted by & filed under Negotiation Skills.

During the past several years, one scandalous story of unethical behavior after another has made headlines: Countrywide’s and AIG’s risky business practices, trader Bernard Madoff’s Ponzi scheme, and former Illinois governor Rod Blagojevich’s alleged attempt to sell a U.S. Senate seat. As instances of people behaving badly proliferate, some commentators have wondered if we are … Read More 

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Why We Focus on Culture in Negotiations

Posted by & filed under Negotiation Skills.

Adapted from “Coping with Culture at the Bargaining Table,” first published in the May 2009 issue of Negotiation. Why we focus on culture Why does concentrating on the other side’s culture lead to problems in negotiation? Consider that negotiators often focus too narrowly on the most obvious information about the task at hand. Such focusing failures lead negotiators to … Read More 

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Intercultural Negotiations: When Negotiators Try Too Hard

Posted by & filed under Conflict Resolution.

Adapted from “Coping with Culture at the Bargaining Table,” first published in the May 2009 issue of Negotiation. Though intercultural negotiating schemas can be useful, negotiators often give too much weight to them, according to an article in the May issue of the journal Negotiation and Conflict Management Research, “Starting Out on the Right Foot: Negotiation Schemas When … Read More 

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Dealmaking: Why It’s Tempting to Trust Your Gut

Posted by & filed under Dealmaking.

In his best-selling novel Blink, Malcolm Gladwell scans the psychological literature and uncovers fascinating nuggets of knowledge. He describes people who can assess the integrity of a work of art within seconds, predict the likelihood that a couple will get divorced based on a short conversation, and assess their romantic interest in another on a “speed … Read More 

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Questioning Compromises

Posted by & filed under Conflict Resolution.

People often wonder if they should constantly monitor their decisions to avoid bias. The answer is no. Social heuristics serve a useful function, allowing our social interactions to run more smoothly. When it comes to minor decisions, go ahead and compromise. But when your organization is negotiating over important decisions and strategies, you must question the … Read More 

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Becoming a More Ethical Negotiator

Posted by & filed under Business Negotiations.

Given the prevalence of corporate scandals in recent years, many have questioned whether ethics training for professionals has done much good. One of the reasons that such training has achieved limited success is its focus on intentional, explicitly unethical behavior. Such training encourages students to do what is right rather than what is profitable. Yet, most … Read More 

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Resolving Conflicts on the High Seas

Posted by & filed under Conflict Resolution.

In negotiation over a limited pool of resources, conflicts often spring up over what constitutes a fair agreement. If two business partners are going their separate ways, they might have different ideas about how their shared assets should be divided, for example. Currently, such a dispute is playing out between China and four of its … Read More 

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Goals Gone Wild

Posted by & filed under Negotiation Skills.

Max H. Bazerman sat down with Sean Silverthorne of Harvard Business School’s Working Knowledge to discuss goal setting and how to effectively set goals on an individual and organizational level. Researchers from top business schools have collaborated on research demonstrating that, in some cases, goal setting may actually do more harm than good. … Read More 

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Specific versus Abstract Negotiation Skills Training

Posted by & filed under Negotiation Skills.

Researchers have argued that negotiators learn more from cases and real-world experiences when they can take away an abstract version of the lesson. Such abstractions come from analogies developed across two or more different negotiation contexts, say Leigh Thompson and Dedre Gentner of Northwestern University and Jeffrey Loewenstein of the University of Texas, who propose … Read More 

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Accounting for Outsiders in Your Negotiations

Posted by & filed under Negotiation Skills.

If you’re in the middle of talks that seem to be going well, here’s a warning: consider the impact of the agreement on those who aren’t at the table, or suffer the consequences. That’s a lesson that Apple and some of the largest U.S. book publishers are currently learning the hard way. On April 12, the … Read More 

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Negotiate How You’ll Negotiate

Posted by & filed under Negotiation Skills.

When a negotiation ends, our satisfaction with the final outcome doesn’t depend solely on how much we objectively gained or lost, according to research by Jared Curhan and Hen Xu of Massachusetts Institute of Technology and Hillary Anger Elfenbein of the University of California at Berkeley. In fact, negotiator satisfaction hinges on four factors: our … Read More 

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Are you really an ethical negotiator?

Posted by & filed under Negotiation Skills.

Are you more ethical than your coworkers? If you’re like most people, you answered yes. Lisa L. Shu and Max H. Bazerman of Harvard Business School and Francesca Gino of the University of North Carolina found in their research that most people think they’re more honest and trustworthy than average. What’s more, through a process … Read More 

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“Let’s All Feel Superior,” Max H. Bazerman quoted in The New York Times

Posted by & filed under Daily, News.

Max H. Bazerman (Program on Negotiation Executive Committee member and professor at the Harvard Business School) recently was quoted in an op-ed in The New York Times entitled, “Let’s All Feel Superior.” In this piece, columnist David Brooks explains how some people have difficulty processing horrific events.  Our natural tendencies to self-deceive come into play and … Read More 

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Are you taking too much credit?

Posted by & filed under Business Negotiations.

Many years ago, researchers Michael Ross and Fiore Sicoly of the University of Waterloo asked husbands and wives to estimate the percentage of the household work they did. On average, the total amount of work claimed by each couple far exceeded 100%. The husbands and wives felt they were contributing more than was actually the … Read More 

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Negotiate for what you really want

Posted by & filed under Negotiation Skills.

It may seem elementary, but one of the first questions you should ask when you’re thinking about negotiating for an important purchase is whether you truly want or need it. We tend to assume that future events—such as buying a new car or signing a seemingly important contract—will have a lasting impact on our overall happiness. … Read More 

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When negotiation goals backfire

Posted by & filed under Business Negotiations, Daily.

Adapted from “Managers: Think Twice Before Setting Negotiation Goals,” first published in the Negotiation newsletter, May 2009. In the years leading up to its collapse, energy-trading company Enron promised its salespeople large bonuses for meeting challenging revenue goals. This focus on revenue rather than profit contributed to widespread fraud and, ultimately, to the firm’s downfall. To encourage … Read More 

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Is it really worth that much?

Posted by & filed under Business Negotiations, Daily.

Adapted from “Trying to Make a Sale? Avoid These Common Pitfalls,” first published in the Negotiation newsletter, April 2010. Why is it that even in sluggish markets, some homes are plucked off the real estate listings within days or weeks, and others sit for months, even years? Location and curb appeal have something to do with … Read More 

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Set your sales force up for success

Posted by & filed under Business Negotiations, Daily.

Adapted from “Managing for Better Results,” by Max H. Bazerman, first published in the Negotiation newsletter, October 2008. If you’ve ever been disappointed by the negotiation results of your sales force, you’re not alone. There could be many reasons for your employees’ unimpressive results, but there are two most likely culprits: a failure to understand what … Read More 

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Decisions Without Blinders

Posted by & filed under Conflict Resolution, Daily.

Max H. Bazerman (Jesse Isidor Straus Professor of Business Administration, Harvard Business School) and Dolly Chugh (Assistant Professor, Department of Management and Organizations, New York University Stern School of Business ) What causes even highly intelligent, focused professionals to miss glaring warning signs and render bad, risky or unethical decisions? In this article, the authors discuss … Read More 

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Three Steps for Crisis Prevention

Posted by & filed under Conflict Resolution.

Michael D. Watkins and Max H. Bazerman (Jesse Isidor Straus Professor of Business Administration, Harvard Business School) Leaders who don’t prepare for predictable surprises make their companies vulnerable unnecessarily. In this article, the authors outline a three-step process for recognizing, prioritizing and mobilizing for disasters that can be foreseen. Read More … Read More 

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How to Avoid the Status Trap

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Don’t Get Stuck in the Status Trap,” first published in the Negotiation newsletter, September 2009. Graduating MBA students often tend to choose their first postgraduate jobs based on vivid aspects of their job offers, such as a high starting salary or the prestige of the firm, Harvard Business School professor Max H. Bazerman has … Read More 

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When Not to Trust Your Gut

Posted by & filed under Daily, Negotiation Skills.

Max H. Bazerman (Jesse Isidor Straus Professor of Business Administration, Harvard Business School) and Deepak Malhotra (Associate Professor of Business Administration, Harvard Business School) Intuition can sabotage your negotiations without your awareness. In this article, the authors explore why we often think irrationally and reveal four practical strategies for how and when to abandon intuition … Read More 

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Stumbling Into Bad Behavior

Posted by & filed under Business Negotiations, Daily, News.

negotiations

In an op-ed article in today’s edition of The New York Times, Max H. Bazerman, Straus Professor of Business Administration at the Harvard Business School, and Ann E. Tenbrunsel, Martin Professor of Business Ethics at the University of Notre Dame, discuss the reasons why ethical lapses occur so often in business settings. According to … Read More 

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Learning from Negotiation Training

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Putting Negotiation Training to Work,” by Max H. Bazerman (professor, Harvard Business School), first published in the Negotiation newsletter. Many executives read books and newsletters to improve their negotiating skills. Many also take time out of their busy work lives to attend classes and training programs, including ones focused on negotiation. Their teachers pass … Read More 

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When Negotiators Act Like Parasites

Posted by & filed under Negotiation Skills.

Adapted from “Creating Values, Weighing Values,” by Max H. Bazerman (professor, Harvard Business School), first published in the Negotiation newsletter. In April 2001, the FTC filed a complaint accusing pharmaceutical companies Schering-Plough and Upsher-Smith of restricting trade. Upsher-Smith had been preparing to introduce a generic pharmaceutical product that would threaten a near monopoly held by Schering-Plough. … Read More 

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Max Bazerman Discusses “Blind Spots” at the Harvard Book Store

Posted by & filed under Daily, Events.

The Harvard Book Store presents

“Blind Spots” with Max Bazerman Date: Monday, April 18, 2011 Time: 7:00 PM Location: 1256 Massachusetts Avenue, Cambridge See Event Details Online: http://www.harvard.com/event/max_h._bazerman/ About the Book: When confronted with an ethical dilemma, most of us like to think we would stand up for our principles. But we are not as ethical as we think we are. In “Blind … Read More 

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Investigative Negotiation

Posted by & filed under Conflict Resolution.

Max H. Bazerman (Jesse Isidor Straus Professor of Business Administration, Harvard Business School) and Deepak Malhotra (Associate Professor of Business Administration, Harvard Business School) Negotiations can hit a brick wall because one party wrongly assumes they understand the other side’s motivations and therefore don’t explore them further. In this article, the authors discuss five principles underlying … Read More 

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Make Your Best Offer Look Better

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Picking the Right Frame: Make Your Best Offer Seem Better,” by Max H. Bazerman (professor, Harvard Business School), first published in the Negotiation newsletter. Imagine that you bought a house in 2000 for $400,000. You have just put it on the market for $499,000, with a real target of $470,000—your estimation of the house’s … Read More 

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Dealing with the ‘Irrational’ Negotiator

Posted by & filed under Conflict Resolution, Daily.

Max H. Bazerman (Jesse Isidor Straus Professor of Business Administration, Harvard Business School) and Deepak Malhotra (Associate Professor of Business Administration, Harvard Business School) You don’t have to let a recalcitrant negotiator derail your progress. In this article, the authors describe strategies and tactics to overcome another party’s counterproductive behavior and keep the deal on track. Read … Read More 

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When Focus Comes at a Price

Posted by & filed under Negotiation Skills.

Adapted from “The High Cost of Low Focus,” by Max H. Bazerman (professor, Harvard Business School), first published in the Negotiation newsletter. Has someone (perhaps a significant other) ever told you that you’ve previously seen or heard something that you don’t recall? When someone says, “I already told you that!” in exasperation, do you assume that … Read More 

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Conflicts of Interest

Posted by & filed under Daily, Negotiation Skills.

Max H. Bazerman (Jesse Isidor Straus Professor of Business Administration, Harvard Business School) and Deepak Malhotra (Associate Professor of Business Administration, Harvard Business School) (An excerpt from the book Negotiation Genius by Deepak Malhotra and Max H. Bazerman) When conflicting interests are involved, none of us is immune from the effects of personal or professional bias. In … Read More 

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Is Your Possession Really Sacred?

Posted by & filed under Negotiation Skills.

Adapted from “What’s It Worth to You?” by Max H. Bazerman, first published in the Negotiation newsletter. Imagine that a beloved aunt passes away and leaves you a 50-acre parcel of Colorado land. You have often visited the area, and though you never considered owning rural property, the fact that the land has been in your … Read More 

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Checking Your Ego

Posted by & filed under Daily, Negotiation Skills.

Adapted from “When Self-Interest is Sabotage,” by Max H. Bazerman (professor, Harvard Business School), first published in the Negotiation newsletter. Researchers Frederick G. Banting and John Macleod were jointly awarded the Nobel Prize in 1923 for their partnership in the discovery of insulin. After receiving the prize, Banting publicly contended that Macleod, the head of their … Read More 

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When Compromise Fails

Posted by & filed under Daily, Negotiation Skills.

Adapted from “The Dangers of Compromise,” by Max H. Bazerman (professor, Harvard Business School), first published in the Negotiation newsletter. In July 2000, Arthur Levitt, then chairman of the U.S. Securities and Exchange Commission (SEC), held hearings on the question of auditor independence. Believing that auditors’ close ties to their clients posed a conflict of interest … Read More 

Daily

Pull Ahead of the Pack

Posted by & filed under Business Negotiations, Daily.

Adapted from “Think You’re Powerless? Think Again,” first published in the Negotiation newsletter. If your organization regularly bids for business, you may be accustomed to feeling like the weaker party, write Deepak Malhotra and Max H. Bazerman in their book Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond … Read More 

Daily

Honor Your Fellow Negotiator

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Negotiators: Guard Against Ethical Lapses,” first published in the Negotiation newsletter. During the past couple of years, a number of scandalous stories involving unethical behavior made headlines: Countrywide’s and AIG’s risky business practices, trader Bernard Madoff’s Ponzi scheme, and former Illinois governor Rod Blagojevich’s alleged attempt to sell a U.S. Senate seat. As instances … Read More 

Daily

Should You Ignore a Threat

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Threat Response at the Bargaining Table,” first published in the Negotiation newsletter. Consider how you would respond to threats and ultimatums such as these during a negotiation: • “If you try to back out, you’ll never work in this industry again.” • “Give us what we want, or we’ll see you in court.” • “That’s our final … Read More 

Daily

The Power of Vivid Data

Posted by & filed under Business Negotiations, Daily.

Adapted from “What’s Really Relevant? The Role of Vivid Data in Negotiation,” by Max H. Bazerman (professor, Harvard Business School), first published in the Negotiation newsletter. Students at top business schools are in an enviable position to negotiate for issues central to their careers and personal happiness. After all, they’re bright, well-trained, and highly sought after … Read More 

Daily

Smoking out liars

Posted by & filed under Daily, Negotiation Skills.

Adapted from “How Body Language Affects Negotiation,” first published in the Negotiation newsletter. In a real-life example of the power of image, Christian Karl Gerhartsreiter, a German, successfully passed himself off as a member of the Rockefeller family for many years while living in the United States. Armed with little more than an aloof personality and … Read More 

Daily

A second look at snap decisions

Posted by & filed under Daily, Negotiation Skills.

Adapted from “It’s Not Intuitive: Strategies for Negotiating More Rationally,” by Max H. Bazerman and Deepak Malhotra (professors, Harvard Business School), first published in the Negotiation newsletter. When deciding whether to start a new business, entrepreneurs should critically and comprehensively analyze negotiations over land, construction, hiring, and so on. Yet in a study by Arnold Cooper … Read More 

Daily

Give at work

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Pitch Your Offer—and Close the Deal,” by Deepak Malhotra and Max H. Bazerman (professors, Harvard Business School), first published in the Negotiation newsletter. When you’re having trouble persuading someone, you might be tempted to sweeten the pot with hefty financial incentives. Before doing so, consider whether there are cheaper ways of gaining compliance. A … Read More 

Daily

When We Expect Too Much

Posted by & filed under Business Negotiations.

How often have you heard a friend or colleague refer to a contract as being “in the bag,” only to find out later that the deal didn’t go through? There always turns out to be a good reason a negotiation fell apart. Yet the fact remains that most negotiators are overconfident about their chances of … Read More 

Daily

Should You Trust Your Agent?

Posted by & filed under Business Negotiations.

You’ve found a beautiful condo that you’d like to call your own. You conduct a thorough assess¬ment of its value and identify several other ap¬pealing properties in the same neighborhood and price range. Believing you’ve found the magic bid, you phone your real-estate agent. … Read More 

Daily

To Avoid Disaster, Plan Ahead

Posted by & filed under Business Negotiations.

In the midst of the recent financial crisis, accusations of greed on Wall Street have sounded across the globe. Greed may be a significant factor in the collapse of credit markets, but it’s not the only one. Overlooked in cries to punish the “bad apples” is the role of a mistake that virtually all negotiators … Read More 

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Daily

Why We Misjudge What’s Fair

Posted by & filed under Business Negotiations.

Researchers Frederick G. Banting and John Macleod were jointly awarded the Nobel Prize in 1923 for their partnership in the discovery of insulin. After receiving the prize, Banting publicly contended that Macleod, the head of their laboratory, had been more of a hindrance in the research than a help. For his part, Macleod, in speeches … Read More